YPF sells stake in Argentina's largest natural gas distributor to Edenor
State-controlled energy company YPF has sold its 70% stake in Metrogas, Argentina's largest natural gas distributor, to electricity firm Edenor. YPF said the move lets it concentrate on oil and gas production, particularly in the Vaca Muerta shale region.
Argentina's state-controlled energy giant YPF has sold its 70% stake in Metrogas, the country's largest natural gas distributor, to electricity company Edenor. The deal is part of YPF's strategy to exit distribution assets and focus on production. Metrogas serves millions of customers across the Buenos Aires metropolitan area.
The company said proceeds from the sale will be directed toward oil and gas production investments in the Vaca Muerta shale formation, which sits at the center of Argentina's energy export ambitions. Vaca Muerta output has been central to the government's push to expand liquefied natural gas exports in the coming years.
Analysts said the transaction transforms Edenor into a larger energy company offering both electricity and gas in the Buenos Aires region. YPF shares drew investor attention following the announcement. The sale is the latest in a series of asset disposals as Argentina's energy sector continues to attract private investment under the current government's market-friendly policies.
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